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Article: Progressive County Mutual Insurance Rated AApi by S&P.
- Article from:
- Business Wire
- Article date:
- October 28, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 10/28/98-- Standard & Poor's today assigned its double-'Api' (Very Strong) insurer financial strength rating to Progressive County Mutual Insurance Co.
Progressive County Mutual is licensed and operates only in Texas. The company's major line of business is personal auto insurance, and it is managed by Progressive Corp. (counterparty credit rating single-'A'-plus/Stable/--), the fifth-largest writer of automobile insurance in the U.S. The company commenced operations in 1948.
The double-'Api' rating is based on the fact that the company cedes 100% of its premiums to an affiliate, Progressive ...